Home Dating asia Pandora Papers: Biggest Offshore Data Leak in History Explained, World News

Pandora Papers: Biggest Offshore Data Leak in History Explained, World News


On the evening of October 4, a shock awaited several current and past heads of state, as well as more than 130 billionaires.

Their offshore banking transactions, which were usually kept private, were public overnight, dominating the headlines of the global news for days.

They had been caught in the Pandora Papers, the world’s biggest data breach.

What are Pandora papers?

In 2019, an unknown source began submitting massive amounts of documents to the Washington-based International Consortium of Investigative Journalists.

The files showed a worldwide distribution of fugitives, criminals, celebrities, football players and others, as well as secret assets, underground deals and hidden riches of the super-rich, including judges, tax authorities, chiefs. intelligence and mayors.

ICIJ Director Gerard Ryle adds: “We’re not talking millions of dollars here, we’re talking billions of dollars.”

The ICIJ realized the leak was at a new level when the document dumps continued until 2020.

How big is it: Pandora papers by the numbers

There are 11.9 million documents in 2.94 terabytes of data in the data collection. Details of the ownership of 29,000 offshore companies and trusts were obtained from 14 companies in offshore tax havens.

Although some documents date back to the 1970s, the majority of companies, trusts and foundations were formed between 1996 and 2010.

The files were shared by the ICIJ with over 600 journalists from 130 news organizations, making it the largest journalistic cooperation in history.

When did all this take place?

While some data dates back to the 1970s, the vast majority of cases examined by the ICIJ and its media partners were generated between 1996 and 2020.

They cover a wide range of topics including forming shell companies, foundations and trusts, using such entities to buy real estate, yachts and jets, using such entities to make investments. and transferring money between bank accounts, and tax evasion through complex financial schemes.

Some documents have been linked to money laundering and other financial crimes.

What is the International Consortium of Investigative Journalists (ICIJ)?

The International Consortium of Investigative Journalists (ICIJ) was founded in 1997 by the American Center for Public Integrity in Washington, although it has been autonomous since 2017.

It employs people from all over the world, including North and South America, Europe, Asia and Australia.

He pioneered a new kind of collaborative journalism in which media and journalists around the world collaborate on a shared platform, similar to a huge newsroom, to investigate leaks.

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